Quebec racetrack operator Attractions Hippiques, which shut down all operations a month ago, is requesting a 45-day extension to file its final proposal to creditors in Quebec Superior Court
.
Instead of this Friday, it wants the deadline pushed back to Dec. 28.
The company said it needs the extra time because it has replaced RSM Richter, the trustee from the time it filed for creditor protection in June of 2008, with another firm, Litwin Boyadjian Inc.
Although there is little likelihood the 1,400 ordinary creditors will receive anything from the disposal of physical assets at Attractions Hippiques’ four tracks, the company is proposing to have them share in the proceeds of possible lawsuits against Loto-Quebec and the Quebec government, under a formula that has yet to be spelled out.
Images recently submitted to Trot Insider show that the track in Montreal is merely a shadow of its former self. Even the fences are being sold as they are not part of the court protection.
(with files from Paul Delean for Trot Insider)
To my fellow horseman all
To my fellow horseman all over Canada, now you can see the real nature of SENATOR
PAUL MASSICOTTE. You can understand why the Québec horseman(owners,breeders,drivers
trainers and etc..) did not get an agreement with this kind of guy. He tried everything
to change the balance of power between the horseman without success because of the bitterness of all in a transaction that meant no sense right at the beginning.
The only hope we had was that he kept his promises wich he did not.
The SENATOR is GIVING AWAY our assets for peanuts to be sure that the comeback is not
easy for the newcomers. It looks contadictory but it might be the best thing that hap-
pens for a new start.
Jack Darling is right, we need new ideas to attract people to the races.
Everybody is right about the take-out. It's too high. The gamblers have no more fun.
Yours truly,
Marc.
P.S.: How can a guy like this be SENATOR?
I wonder what they will
I wonder what they will get for the pylon
I can't begin to tell you
I can't begin to tell you how sad those pictures make me feel. Many great horses raced over that track. Many top drivers and trainers got their beginning there. I obviously, can't say what I would like to, but I hope the people responsible for this are VERY PROUD OF THEMSELVES!!!